Kenexa Corp. (KNXA) announced Monday morning that it agreed to be acquired by IBM Corp. (IBM) for $46.00 per share in cash, in a transaction valued at approximately $1.3 billion. The transaction is expected to be completed during the fourth calendar quarter.
Kenexa gapped open dramatically higher Monday, but traded in a narrow range throughout the session. The stock closed up by 13.40 at $45.79 on the highest volume of the year. Kenexa leaped to a new high for the year.
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